I am disappointed by your coverage of Washington First International Bank (in the June 19–25 issue). Earlier in the year, you published an article titled
On Friday, June 11, the Washington Department of Financial Institutions closed Seattle-based Washington First International Bank (WFIB) because it didn’t have enough capital.
Sadly, we have been reminded that nothing is safe in this economy. In January, we ran a profile on Washington First International Bank (WFIB).
Dominic Ng, chairman and chief executive of East West Bank, which acquired Washington First International Bank, surprised Asian media by showing up in Seattle on
As the world recovers from the global economic crisis, many people have looked to banks and financial service centers as the source for blame, questions, and answers. Along with the public unease, many banks have come under fire from the Federal Deposit Insurance Corporation (FDIC). It released a list of financial institutions that were under investigation.
Asian Americans started Washington state’s first bank in the 1960s. There are currently close to 10 Asian banks including local, national, and international offices. The Black community still does not have its own bank, and the Latino community founded its Plaza Bank in 2006.